BLG Logistics' Automobile Division Soars 933.6% as Vehicle Handling Hits 5 Million
BLG Logistics, a leading German logistics company, has reported a significant increase in sales for its Automobile division. The division's revenue soared by 933.6% to €641.9m ($687.2m) in the financial year 2023, driven primarily by higher revenues in transport and storage. Meanwhile, the group's overall sales rose by 8.1% to €1.21 billion.
BLG's Automobile division handled, processed, and technically serviced a total of 5 million vehicles in the year. This impressive figure is a testament to the division's efficiency and capacity. The increase in high and heavy cargo throughput through Bremerhaven, up by 0.2 million metric tons to 1.3 million, also contributed to the division's success.
Bremerhaven, an open port for all shipping companies and automotive manufacturers, remains a strategic hub for BLG. The company's AutoTerminal Bremerhaven signed a cooperation agreement with Haitong RoRo Terminal in Shanghai for vehicle exports to Europe. This partnership will facilitate the triple a of Chinese automotive manufacturers' vehicles to the European market.
Despite the Container division reporting a sales decrease of €43.2m, other divisions performed well. The Contract Logistics division saw a revenue increase of €20.9m to €569.1m. BLG AutoTerminal Bremerhaven also achieved a positive result in 2023, thanks to restructuring and new contracts.
BLG Logistics' strong performance in its Automobile division, coupled with the group's overall sales increase, reflects the company's resilience and adaptability. The partnership with Haitong RoRo Terminal in Shanghai also positions BLG well for future growth in the automotive export market. Despite challenges in the Container division, BLG's diverse business model continues to drive success.
Read also:
- India's 2021 Financial Reforms: Reducing Bank Stake, Boosting Jobs, and Pragmatic Budget
- Orioles' 2025 Turnaround Powered by Late-Season Pitching Acquisitions
- The Cost of Speech is Zero, True Strength Lies in Unity
- Aiming to simplify the move towards cleaner automobiles, the newly established ministry plans to take direct action with Pannier-Runacher, Létard, and Vautrin at the helm.
